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Malta

Repubblika ta' Malta

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues (excluding grants) and expenditures converted to US dollars at average official exchange rate for year indicated

revenues

$6.95 billion (2023 est.)

expenditures

$7.966 billion (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2022

$23.566 billion (2022 est.)

Exports 2023

$26.647 billion (2023 est.)

Exports 2024

$29.245 billion (2024 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2022

$21.406 billion (2022 est.)

Imports 2023

$22.637 billion (2023 est.)

Imports 2024

$24.505 billion (2024 est.)

Industries

tourism, electronics, ship building and repair, construction, food and beverages, pharmaceuticals, footwear, clothing, tobacco, aviation services, financial services, information technology services

Labor force

318,200 (2024 est.)

note: number of people ages 15 or older who are employed or seeking work

Public debt

note

note: Malta reports public debt at nominal value outstanding at the end of the year, according to guidelines set out in the Maastricht Treaty for general government gross debt; the data include the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); general government comprises the central, state, and local governments, and social security funds

Public debt 2017

50.7% of GDP (2017 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2022

0.1% of GDP (2022 est.)

Remittances 2023

0.1% of GDP (2023 est.)

Remittances 2024

0.1% of GDP (2024 est.)

Exchange rates

Currency

euros (EUR) per US dollar -

Exchange rates 2020

0.876 (2020 est.)

Exchange rates 2021

0.845 (2021 est.)

Exchange rates 2022

0.95 (2022 est.)

Exchange rates 2023

0.925 (2023 est.)

Exchange rates 2024

0.924 (2024 est.)

Economic overview

high-income, EU-member European economy; diversified portfolio; euro user; dependent on food and energy imports; strong tourism, trade, and manufacturing sectors; high North African immigration; large welfare system; educated workforce

Unemployment rate

note

note: % of labor force seeking employment

Unemployment rate 2022

3% (2022 est.)

Unemployment rate 2023

3.2% (2023 est.)

Unemployment rate 2024

2.8% (2024 est.)

Exports - partners

Nigeria 28%, Germany 10%, China 6%, Singapore 5%, Hong Kong 4% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

Italy 18%, China 10%, Germany 8%, France 7%, Turkey 7% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$57,800 (2022 est.)

Real GDP per capita 2023

$59,300 (2023 est.)

Real GDP per capita 2024

$60,500 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

4.3% (2022 est.)

Real GDP growth rate 2023

6.8% (2023 est.)

Real GDP growth rate 2024

6% (2024 est.)

Agricultural products

milk, tomatoes, onions, potatoes, chicken, cauliflower/broccoli, cabbages, pork, pumpkins/squash, watermelons (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

refined petroleum, integrated circuits, packaged medicine, ships, postage stamps/documents (2023)

note: top five export commodities based on value in dollars

Imports - commodities

ships, refined petroleum, integrated circuits, aircraft, packaged medicine (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2022

-$167.611 million (2022 est.)

Current account balance 2023

$1.425 billion (2023 est.)

Current account balance 2024

$1.383 billion (2024 est.)

Taxes and other revenues

21.9% (of GDP) (2023 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$24.322 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

46.6% (2024 est.)

government consumption

17.2% (2024 est.)

investment in inventories

0.9% (2024 est.)

investment in fixed capital

17.9% (2024 est.)

exports of goods and services

123.5% (2024 est.)

imports of goods and services

-106.1% (2024 est.)

Population below poverty line

16.7% (2021 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

6.2% (2022 est.)

Inflation rate (consumer prices) 2023

5.1% (2023 est.)

Inflation rate (consumer prices) 2024

1.7% (2024 est.)

Industrial production growth rate

5.6% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$30.689 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$32.774 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$34.731 billion (2024 est.)

Youth unemployment rate (ages 15-24)

male

9.6% (2024 est.)

note

note: % of labor force ages 15-24 seeking employment

total

7.8% (2024 est.)

female

5.7% (2024 est.)

Reserves of foreign exchange and gold

note

note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$1.199 billion (2022 est.)

Reserves of foreign exchange and gold 2023

$1.223 billion (2023 est.)

Reserves of foreign exchange and gold 2024

$1.418 billion (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

11.4% (2024 est.)

services

80.8% (2024 est.)

agriculture

0.2% (2024 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.7% (2022 est.)

highest 10%

27.7% (2022 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2022

34.6 (2022 est.)